Intern who developed great method for sourcing deal flow. How do I leverage this into a PE or IB (M&A) Role?
I have developed a proprietary deal sourcing technique. It works really well. MD's are terrible at business dev. I want to move to another bank and be valued for bringing in valuable deals. What can I do? I focus on ADG and TMT but I can reapply the method for just about anything. Non-Target University graduate in D.C. Metro Area looking for an opportunity in IB or PE.
If its so good, why don't you found your own company and keep all the profits?
In case you are not being facetious:
Aside from being a recent college grad (but with a lot of work experience), I am not a licensed broker or principal agent. I would if I could (eventually). I have a large personal and professional network for someone my age in a number of industries that I am passionate about as well. It isn't just the sourcing method- I have the personal leads and relationships as well. The most important reason is: I am simply not ready to. I won't pretend I know enough about actual deal execution/banking to start a shop now either. (I am an off-cycle slave. Monkey's get paid at least).
I can, however, generate cold, warm, and hot leads like a machine. I can target and research like a wizard. I have essentially developed a graphic design and marketing background through the bespoke research reports, industry reports, pitch materials, and targeted white papers I make. All of this at a bank that is too cheap to comp my parking, let alone provide me the resources to get it done efficiently.
The problem is I don't get to model because they either drop the ball, or I am never informed of how the introduction or action materialized. On two occasions I was personally embarrassed after bringing clients that I know outside of work in my personal life (who the firm said they could advise on sale/general growth advisory/M&A) where they responded late and in one instance just forgot to respond at all- which undid both and smeared rep with those two businesses. As a result of the PTSD I have from those opportunity failures- I can't bring myself to pass on intelligence to them. It is not a part of my role description, and I don't use any company tools to find my data- so I just stopped bringing it in. I am fighting like hell to get a FT offer anywhere else so I can get a license and real training/experience. The hard part is leveraging deal sourcing as the main element of my application from a non-target. I also can't list the scores of opportunities they never followed up on which doesn't help.
This is why I am jumping ship. I have every intention of starting my own boutique in a decade, but for now, I want to stfu and take a back seat while learning from a legitimate professional. Get some training and get my feet wet while working my ass off to solidify and expand my skill set. If I have a transaction record of deals I have worked on after that, then a boutique is not out of the question. My mistake was joining a bank that is MD heavy. They have no incentive to comp me, train me, or sponsor me for my exams.
Does this work in other industries?
a 'lot' of work experience? not sure what that means, but sounds like you're at most 2 years out of college
I meant a lot of work experience for someone who just graduated college. I had to hustle my way through school. Respectfully, not everyone got to attend a target, do a semester at sea over the summer, or use their dad's country club membership to get a job caddying for executives. I went to school at night so I could work office jobs from morning till my classes started. I had to work on the weekends too. That stuff might not mean anything to a banker with a nice pedigree, but it has yielded positive results/feedback elsewhere. I just think I am still young enough to make it in. If not, I will likely go back to defense contracting or management consulting again. Can always go the B-School route I guess. Thanks for the advice nonetheless.
You need at least 2 years of work experience to go to B school.
Your experience counts for the most part after college.
I think you think you have developed a proprietary method, but in reality, it is nothing proprietary (or valuable for that matter) at all. Like you said, you're an intern, so you wouldn't have a sample size large enough to prove it.
Pay your dues.
This.
You think you have developed something.
You missed my point: I **want ** to put in my dues so I can learn. I just have a knack for this and want to use it as a way to break into banking for all of the other stuff: training, experience, transaction execution, etc. I don't think I am gonna be playing an active role in anything other than learning and contributing my soul to the team. I just want to know if I should even bother highlighting that as a primary capability, or should I just take my chances as a dedicated shmuck who wants to apply, but was not a formal summer intern in the past at any major investment bank or recognizable boutique?
Also think about the sizes of these businesses. All the BBs and EBs are going to have some fairly high minimum requirements for anyone trying to sell their business with them. It won't help much if the business you contact are too small.
I actually would prefer a middle market or boutique, but I figured BB was my best chance because of size I guess? Best ADG groups are with HL, Lazard, Evercore, and Harris Williams- not exactly the kinda banks that make exceptions for people.
To answer your last sentence: The vast majority of the firms I target are Middle Market. This is definitely true. Some of my prospects are large caps, but to even begin to approach a fortune 500 company, you would have to have a strong transaction history or have represented large firms before (My MD's do not for the most part- at least not in my division).
But- I focus on ADG so a lot of these businesses, if not the vast majority, are small and middle market firms. The contracting world is unique because a sizeable chunk of business HAS to go to small/medium/minority/women/veteran owned businesses. Outside of the top 20 Primes, I don't really have to worry about large firms needing advisory. (Though I have a large number of senior level contacts at the various primes).
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